Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2012        Go!    
 
 
April 25, Tuesday 2017 4:21 AM       

       HEADLINES: E P Jayarajan takes exception to Pannyan’s dig at Mohanlal                                              Day 2: Delhi cops grill Dhinakaran for 11 hours                                              Chhota Rajan, three others guilty in fake passport case                                              Situation in Kashmir will improve in 2-3 months: Mehbooba                                              AIADMK merger talks stalled as rival factions wrangle                                              Mexico will 'eventually' pay for border wall: Trump                                              N Korean media issue threat to 'wipe out' US                                              Tendulkar turns 44, wishes pour in from across the globe                                              Younis breaks 10,000-run barrier as Pak build reply                                              Kaumudi Facebook
       BUSINESS Next Article: Idea to sell 2G, 3G, 4G mobile data at same price from Mar-end  
       Softbank appoints Kabir Mishra to Snapdeal board
 
         Posted on :22:07:56 Mar 20, 2017
   
A A
       Last edited on:22:07:56 Mar 20, 2017
         Tags: Softbank appoints Kabir Mishra to Snapdeal bo
 
 
BENGALURU: Japanese conglomerate Softbank has appointed its most experienced e-commerce veteran Kabir Mishra to the Board of e-commerce firm Snapdeal to support the company.
 
"Softbank has appointed its most experienced e-commerce veteran Kabir Mishra to the board of Snapdeal to support the company," a source privy to the development told PTI.
 
This decision comes in the wake of Softbank-backed online merchant Snapdeal's hoping to hit profitability in the next two years as it undertakes a number of steps, including layoffs and moving away from non-core activities.
 
The company had laid off 500-600 employees across verticals even as Co-Founder Kunal Bahl admitted to making mistake in growing much before it could figure out right economic model.
 
Kabir has for many years been closely involved in managing Softbank's investment in Alibaba in China, the source said.
 
Kabir has also played an anchor role in managing Softbank’s investment in Indonesian e-commerce major Tokopedia and had extensive involvement in South Korean firm Coupang, where Softbank invested USD 1 billion in June 2015, the source added.
 
Snapdeal, earlier this month, had announced shutting down of its consumer to consumer marketplace Shopo. As part of the revival plan, the company will reorganise into "a lean, focussed and entrepreneurial one" by combining teams, reducing layers, eliminating non-core projects and strengthening focus on profitable growth.
 
"Sadly, we will also be saying really painful goodbyes to some of our colleagues in this process," Bahl wrote, in an email shot off to his employees, without giving the actual number of layoffs.
 
Snapdeal, which faces intense competition from Amazon and Flipkart, had last reported an employee strength of 8,000.
 
Bahl and Rohit Bansal also had announced that they will take a 100 per cent salary cut, and also said many senior leaders had "offered to take a significant cut in their compensation."
 
The e-commerce firm today announced the appointment of Jason Kothari as the Chief Executive Officer of its digital payment platform FreeCharge and a commitment to invest an additional USD 20 million in the e-wallet firm.
A A
       BUSINESS
Next Article: Idea to sell 2G, 3G, 4G mobile data at same price from Mar-end
 
 
BUSINESS HEADLINES
Sensex rebounds 291 pts; French Prez race, RIL Q4 in limelight  
Thailand expects 12 lakh tourists from India in 2017  
GST great illustration of cooperative federalism: Modi  
Niti Aayog lists promoting digi-payments as achievement  
Hero Cycles eyes setting up Rs 400 cr project  
Impact of demonetisation abated: IMF  
Mistry appeals against NCLT rejecting waiver plea in Tata case  
Air India lowers age limit for elderly travel concession  
SEBI court quashes non-bailable warrant against Sahara chief  
India needs to accelerate investment in children, education:WB  
Sensex extends gains, up 86 pts on bargain hunting  
Jaitley may take up H-1B visa issue with US authorities  
'India moving forward to become major destination for FDI'  
Sensex surrenders early gains, falls 95 pts  
Apple, Coke, Airtel among cos pulled up for 143 misleading ads  
Inflation cools to 5.7%, food prices heat up  
Nifty regains 9,200-level in early trade  
SC orders auction of Sahara's Amby Valley  
Railways to export locos, train sets worth Rs. 680 cr to Lanka  
Sensex edges lower by 88 pts on global weakness  
Netizens uninstall Snapdeal app instead of Snapchat  
Petrol price hiked by Rs 1.39 per litre, diesel up by Rs 1.04  
CBEC sanctions Rs 1 cr to each zone for GST outreach  
Markets feel Infosys heat, Sensex dives 182 pts  
Infosys plans Rs 13,000 cr pay-out via buyback, dividend  
 
Do you think Chief Minister Pinarayi Vijayan triggered holy cross row?
yes
 
no
 
don't know
 
 
 
Home Kerala India World Business Sports Sci&Tech Education Automobile CityNews Movies Environment Letters 
© Copyright keralakaumudi Online 2011  |  Reproduction in whole or in part without written permission is prohibited.
Head Office Address: Kaumudi Buildings, Pettah P.O, Trivandrum - 695024, India.
Online queries talk to Deepu Sasidharan, + 91 98472 38959 or Email deepu[at]kaumudi.com
Customer Service -Advertisement Disclaimer Statement   |  Copyright Policy